As Beijing responds, soybean prices fall
Soybeans are among the 106 products to receive new levies imposed by the Chinese. The levy makes sense, according to Bloomberg, as China buys a third of the United States’ soybean crop.
However, the move could hit Chinese pork producers. Much imported soy ends up as feed for China’s 600 million pigs.
Soy is also the most important ingredient in salmon and trout feed.
The US sold USD 13.9 billion worth of soybeans to China last year, and China might seek alternative deliveries from producing countries like Brazil or Argentina, Bloomberg has written.
Norwegian fish-feed suppliers mostly buy their soy meal raw material from Brazil.